Tasker Payment Gateways

Signifyd and fraud protection for high-risk merchants

Tuesday, December 19th, 2017 at
5:50 pm

For today’s high-risk e-commerce merchants, fraud is more of a threat than ever. Whether it be the vape site owner who fell victim to a scammer using their site to test stolen cards, the premium cigar merchant who lost thousands on an online order that they themselves thought “might be too good to be true, or the FFL dealer who had malicious firearms orders placed on their website and then charged back, we have heard it all. Recently we received some very positive feedback from clients on an online fraud system called Sygnifyd, so we wanted to pass on some of what we have learned. You can also visit their site directly at Signifyd.com.

What are the weak links in online security?

At any point, one part of the transaction can be compromised by a weak link in the chain. The most successful way to combat e-commerce fraud is by having secure systems and partnering with payment gateways that are protected specifically for that purpose and allow supplemental software plug-ins to enhance out of the box features. Fortunately, there are many options out there, but when it comes to chargeback protection, you may want to consider Signifyd in combination with a high-risk friendly Authorize.Net payment gateway, paired with an appropriate merchant account for your industry.

Why do many high-risk websites choose Signifyd and Authorize.Net?

Signifyd takes the stress off your hands with complete chargeback protection. If you get a chargeback from a recent transaction, Signifyd will reimburse you within 48 hours. Through finely tuned data and technology, Signifyd has gotten so good at catching and denying fraudsters they will guarantee your transactions. That level of confidence is few and far between in this industry. Signifyd uses a combination of data analytics and human oversight to catch as many fraudsters as possible. Updating tactics and information 24/7/365 to keep you protected from the most problematic piece of a complicated industry.

One reason merchants we speak with are so keen on Signifyd is the assistance it gives to high-risk e-commerce businesses. Online sites like FFL dealers and weapons merchants along with vaping and e-cig products or tobacco products like premium cigars get a huge boost in fraud avoidance when using Signifyd. A big part of the reason businesses like these are considered “high-risk” is their higher chance of chargebacks, and with all the regulations and red tape in these industries dealing with chargebacks can be a costly and thoroughly unpleasant experience. Add on top of that the liability that might come along with those sales to a fraudulent source. Who wouldn’t want the peace of mind of having top-level protection against such occurrences for your e-commerce business? Signifyd even offers two levels of service, an on-demand assurance, and a complete assurance package, so you can choose how integral it is and reduce costs if you feel relatively secure in your transactions.

Seamless Signifyd Authorize.Net integration

When it comes to e-commerce software and platforms we have a short list of favorite payment gateways. Signifyd happens to be compatible with Authorize.Net, one of the best payment gateways out there for high-risk e-commerce, when set up properly with an appropriate high-risk merchant account – read more here. Additionally, using Signifyd with Authorize.Net makes your e-commerce site even more secure, as Signifyd is designed to utilize special authorization confirmation and security features provided by Authorize.Net. If you are just getting started with e-commerce you will also need to create a merchant account with a high-risk friendly processor. We can help by recommending merchant accounts that suit the needs of your specific business and market, and give you the support you need. It’s important to understand how your market works within the “high-risk” industry, each market has its quirks and special regulations, making the need for a matching merchant account all the more important.

Additional features and benefits of Signifyd

With Signifyd shipping and filling orders have never been easier. The system provides so much data it will automate much of your backend needs, saving you time and money on operational tasks. That’s not all, all the analytics and completed orders come right to you in informative and simple reports. What may be its best benefit is the increase in orders you will get. With Signifyd you will be able to fill orders that other fraud systems may decline due to the higher risk of chargebacks, but now that you are protected from them you can accept those orders and increase your revenue.

One of the best features of Signifyd is how exceedingly simple it is to set up. It doesn’t require any changes to your website backend, and the process is done in a few minutes, if you already have your e-commerce website up and running it couldn’t be easier.

On top of all that Signifyd has, like many other e-commerce software platforms, an updated blog on tips, special feature usage and more information on how to take advantage of Signifyd. The blog has been going since 2011 and is going strong, which means there is already a lot of solid information to help you get started making the best of Signifyd and your e-commerce business.

P.S. We're happy to help even if you just have a quick question - even if you are "not ready yet" and just want a little free advice. We regularly earn clients' business years after we first speak.